Kotak Investment Banking (KIB), a subsidiary of the Kotak Mahindra Bank Ltd, has entered into a pact with Russian investment bank, Renaissance Capital. Both companies will offer cross-border mergers and acquisitions (M&A) advisory to their clients across emerging markets like India, Russia and Africa.

The alliance is already operational and will play an active role in the growing cross-border investment flows and M&A activity between India and the Commonwealth of Independent States (CIS) and Africa, said a Renaissance Capital statement.

KIB will leverages Renaissance Capital's presence in Russia, Kazakhstan, Ukraine and Africa in verticals such as mining and oil and gas while the latter will gain from Kotak’s depth in the Indian market.

Renaissance Group CEO Stephen Jennings also anticipated a good deal flow in 2010 and beyond in emerging markets, as more Indian companies are actively seeking to acquire energy and mining assets in the CIS and African.